Danish Chaudhry

Bitcoin.com Exchange Reveals Role in the Cryptopia Rescue Group

31/10/2020 by Idelto Editor

The world-class trading platform, Bitcoin.com Exchange announced it’s participating in the Cryptopia Exchange rescue consortium in order to help redistribute coins to customers. Bitcoin.com’s trading platform will provide an exchange environment in order to bolster the Cryptopia Rescue redistribution plan.

Back in January 2019, the New Zealand cryptocurrency trading platform Cryptopia Exchange suffered a major breach and it affected 2.3 million account holders from all around the world. Estimates note that roughly $860 million worth of cryptocurrency was held on the exchange before the hack. Bitcoin.com is pleased to announce that our exchange will assist a rescue program dedicated to helping Cryptopia account holders.

Bitcoin.com Exchange has joined a consortium called the “Cryptopia Rescue” program, and it will produce a platform to distribute coins to Cryptopia Exchange Account Holders. The group formed in order to create a class action against the Liquidator, Grant Thornton.

Victor Cattermole, a Cryptopia Rescue spokesperson said:

The liquidator was proposing to write off more than 50% of the coin holdings. In our alternative plan, we have established a relationship with Bitcoin.com to provide an exchange environment to emulate the Cryptopia model so that all coins can be redistributed.

Currently, the Cryptopia Rescue team is working to connect with as many account holders as possible. The plan is to do everything possible to provide the best resolution to Cryptopia’s former customers. Since launching on September 2, 2019, the premier Bitcoin.com Exchange has provided customers with a professional trading engine combined with top-of-the-line security practices.

Speaking about joining the Cryptopia Rescue effort, Danish Chaudhry, CEO of Bitcoin.com Exchange explained the exchange team looks forward to helping the crypto community.

“We take this role very seriously within the consortium,” Chaudhry stressed. “[Bitcoin.com Exchange] will do everything we can as a united group to provide the best-in-class platform to redistribute Cryptopia account holders their coins via our exchange,” he added.

There are five limitations Cryptopia Exchange Account Holders need to take into account.

The Cryptopia trustee is independent of Bitcoin.com Exchange.
Claim information is stored only on the trustee’s servers, not on Bitcoin.com Exchange’s servers.
Claim information is private between clients and the trustee.
Bitcoin.com Exchange is not involved in approving or denying claims.
Bitcoin.com Exchange does not determine when claims are distributed.

When the Cryptopia Exchange trustee completes the claim approval process and selects a distribution date, a provided payout support plan for distribution may be added. Customers that have any questions or issues with the Cryptopia claim process will need to contact Cryptopia support.

What do you think about the Bitcoin.com Exchange providing support to Cryptopia account holders? Let us know what you think about this subject in the comments section below.

The post Bitcoin.com Exchange Reveals Role in the Cryptopia Rescue Group appeared first on Bitcoin News.

Bitcoin.com Exchange Acquires BOA Exchange To Reach New Markets

05/10/2020 by Idelto Editor

Announced earlier this week, the two companies said the deal is expected to be finalized immediately, without disclosing the financial terms.

BOA Exchange is a crypto exchange that has accumulated a vast user base, offering free alt tokens in airdrops and staking coins. The deal further expands the reach of Bitcoin.com exchange into the underserved Eastern European and Southern Asia marketplaces. BOA Exchange came onto the scene in 2018 during the height of the ICO craze making a name for itself in the altcoin and airdrop marketplace, offering cheap listings and a plethora of free tokens to its members.

Danish Chaudhry, Head of Bitcoin.com Exchange stated: “We are pleased to have made this acquisition at this time, as it furthers our reach into the European and Asian markets as we witness a consolidation in the crypto exchange space.”

Sources close to the deal told the news source the deal will consist of a straight crypto transaction with an undisclosed amount of Bitcoin Cash (BCH). In terms of how the transition will pan out, users will soon be going to exchange.bitcoin.com to check their balances. However, users at BOA Exchange will have time to either withdraw their tokens from the old exchange and signup to exchange.bitcoin.com to easily transition to the new platform.

Bitcoin.com Exchange also said that the acquisition comes at a great inflection point in the industry, with new traders across the globe adopting crypto and speculating it due to current circumstances of further trust in the market. The exchange has said that it has seen a plethora of new signups, ranging from beginner to advanced traders over the past couple of months. This could also be due to the new margin trading capabilities available within the exchange.

About Bitcoin.com Exchange

The mission of Bitcoin.com Exchange is to empower people from all over the world to trade cryptocurrencies with ease and confidence, from first-time traders to advanced trading professionals. With high liquidity, 24/7 multilingual support and dozens of trading pairs, complemented with a high level of security, we offer an attractive platform for trading any cryptocurrency. Within one year since launch, on average, our exchange has been visited by more than 500K active traders per month, and this number continues to grow as you read this sentence.

Media Contact Info

Bitcoin.com Exchange

Contact Name: Antonio Bileci

Contact Email: [email protected]

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Bitcoin.com Exchange Announces Listing of New Digital Asset BUY by Burency

19/06/2020 by Idelto Editor

Bitcoin.com Exchange is thrilled to announce the upcoming listing of a new digital asset on the 20th of August 2020 at 10:00 UTC. BUY by Burency is a new cryptocurrency that aims to increase cryptocurrency and blockchain adoption in the Middle East. BUY will be listed with BTC and BCH trading pairs. The listing will make the token for the first time tradeable against other major cryptocurrencies.

Danish Chaudhry, Head of the Bitcoin.com Exchange said “We see a lot of potential for Blockchain and Cryptocurrencies in the Middle East region. Therefore, we’re very excited to list BUY from Burency and support them in their mission to bring Blockchain to the masses”.

Mohammad Mazen, Founder and CEO of Burency added : “As Bitcoin.com is a historical player in the Cryptocurrency ecosystem, the listing on their exchange is a very important step for us that will additionally allow us to promote and offer the BUY token to their large and committed community.”

The Burency ecosystem consists of a fully-insured crypto exchange, a Blockchain Development Center and the Burency Mining farm. Each one of them addresses one of the previously mentioned challenges.

The Burency exchange is built for transparency and convenience. It is fully regulated and allows anyone to easily get started with cryptocurrency trading. It is also one of the first exchanges that is fully insured by one of the top insurance providers: Lloyds of London. The exchange will offer traders fiat to crypto gateway as well as a live profit/loss dashboard making it easy to keep track of your trading performance.

Most exchanges store a part of the funds they hold in cold storage and just keep a small portion in hot wallets to ensure liquidity. Burency is aiming to achieve storage in cold wallets and easy access. If they succeed, insured users could store crypto in DMCC storage vault – a third party insured blockchain managed physical vault.

Additionally, Burency is planning to set up their mining operations in relatively cold countries while using renewable energy, mainly hydro-power, to run their operations with a lower ecological footprint. Anyone who is looking for computational power will be able to buy time-slots in the mining facility. To ensure fairness and transparency, the transaction will be conducted via smart contracts.

The third and last element in the Burency ecosystem is the Blockchain Development centre which tackles the current lack of understanding when it comes to Blockchain technology. The Burency Blockchain Development Center will become a research hub in the UAE region and will support businesses in understanding and implementing DLT.

What ties all these elements together is the native token of the Burency ecosystem: BUY.

Buy is an ERC-20 token and allows users to trade, request services or bid on mining slots. In total 700 Million BUY tokens have been created. In the future, Burency is considering to buy-back and burn tokens with the revenue generated.

Notes

Three streams of business:
- Regulated exchange
- Sustainable mining operation
- Blockchain research center
Burency BUY token ERC-20 -> allows users to trade, request services or bid on mining slots
Safety, robustness, transparency and security
Target audience:
- Investors, crypto enthusiasts, casual traders
- Miners, enthusiasts and enterprises wanting computing power
- Government departments, enterprises, SMEs, start-ups and e-commerce platforms

Burency Blockchain Development center
- Research and Development hub in UAE
- Helps enterprises and startups to implement blockchain to address challenges
- Smart contracts to facilitate cross-border trades
- Idea to position burency as global brand for trust
Burency Mining Farm
- Streamlined platform for mining via purchased timeshare slots in mining facilities -> interested parties can purchase computational power with BUY token
- Can build entire mining farms for interested enterprises
- Regular audits
- Purchased slots can also be used to fulfil other computational; tasks
- Goal: one of the world’s main blockchain data centers within next decade, hub of computing power to facilitate blockchain and dApps
Tokenomics
- ERC 20 Token to facilitate trading
- Primary transfer medium for trading
- Enable users to buy services and facilities within burency ecosystem
- 700 Mio. Buy tokens
- Plans to burn tokens with revenue of mining farm, blockchain center and based on trading vol.
- Reduced trading fees: 50% in the first 2 years, then 25%

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18,000 Traders and Growing – Bitcoin.com’s Crypto Exchange Shines Brightly

17/09/2019 by Idelto Editor

Since exchange.Bitcoin.com launched, our premier trading platform has seen a significant influx of users from Asia and Europe. So far, the grand opening of Bitcoin.com’s exchange has led to more than 18,000 registered traders. Moreover, exchange.Bitcoin.com’s Chief Operating Officer, Danish Chaudhry, explained that the exchange launch and the last two weeks of trading have been a success, and account signups continue to grow.

Also Read: Plans to Build $50M Bitcoin Cash Tech Park Revealed

Bitcoin.com’s Premier Crypto Exchange Captures 18,000 Users

Bitcoin.com recently launched a new trading platform on Sep. 2, and so far our team has seen positive results and significant growth. Exchange.Bitcoin.com is an easy-to-use trading platform that offers world-class security and a powerful trading engine. Furthermore, the exchange has a wide variety of trading pairs like litecoin (LTC), ripple (XRP), tron (TRX), zcash (ZEC) and denominated markets with base currencies such as tether (USDT), bitcoin cash (BCH), and bitcoin core (BTC) as well. Traders using exchange.Bitcoin.com can rest assured they are trading in a safe environment as our exchange offers the very best in institutional-grade encryption. On top of that safeguard, traders benefit from two-factor authentication (2FA) and IP whitelisting, so they can keep their accounts secure at all times.

Danish Chaudhry, exchange.Bitcoin.com’s Chief Operating Officer, explained that the grand opening of our trading platform two weeks ago was a great success. “We have more than 18,000 registered users so far and we’re just getting started,” Chaudhry said. “The days leading up to the event were stressful because we want to offer the very best products and trading experiences for our customers. Before launching we worked day and night to bring exchange.Bitcoin.com to fruition and we continue to focus our efforts on the bright future ahead.”

Chaudhry remarked that exchange signups were stemming from a variety of different countries worldwide. “Right now Europe and parts of Asia are using the Bitcoin.com’s exchange the most thus far. There’s been a number of popular cryptocurrencies traded on a daily basis,” Chaudhry added, and noted that the BCH/BTC market is the most popular trading pair. Chaudhry also highlighted that exchange.Bitcoin.com is meant to provide the most optimal trading experience in this world of fast-paced crypto markets.

Crypto Newcomers and Veteran Traders Can Expect More Features from Exchange.Bitcoin.com Going Forward

“Newcomers just stepping into the crypto space should choose exchange.Bitcoin.com because of our trusted brand, our professionalized security, and ease of use. Users can buy bitcoin cash from any one of our other satellites, and can trade for a number other popular digital assets on the exchange — Our trading platform provides a fast, safe environment with low fees,” exchange.Bitcoin.com’s COO said. Chaudhry further opined:

On the same token, veteran traders should choose to trade at Bitcoin.com’s Exchange for the same reasons above. And because we will be introducing amazing new features like SLP token listings, which is exciting because the Simple Ledger Protocol universe has been bolstering relentless BCH innovation over the last six months.

Chaudhry insisted that there’s a lot of new features being prepared at the moment for future services to be added to the exchange. For instance, in addition to the SLP token listings, Chaudhry said that down the line people will be able to make a purchase on exchange.Bitcoin.com with a credit card. At a future date, Bitcoin.com’s exchange will also offer fiat pairs and premier listings, he added.

If you haven’t signed up for exchange.Bitcoin.com yet, the process takes less than a minute and after you register you can immediately start swapping digital assets. Chaudhry concluded by detailing that the last two weeks have been a successful start to a far bigger vision, and his team aims to serve millions of traders moving forward.

What do you think about the new exchange.Bitcoin.com? Have you signed up for our exchange yet? Let us know what you think about this subject in the comments section below.

Image credits: Shutterstock, exchange.Bitcoin.com.

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